Oct. Analysis of the Sales of Commercial Vehicles for Automobile Sales
In September, the national automobile production and sales showed little improvement, but by October, the situation had returned to its previous state. The decline in commercial vehicle sales became even more pronounced. Most commercial vehicle categories saw a drop in sales compared to the previous month, with some experiencing significant declines. Notably, the sales of passenger vehicles from Shanghai Volkswagen and Guangzhou Honda fell sharply.
According to the China Association of Automobile Manufacturers, in October, automobile production reached 704,900 units, representing a year-on-year decrease of 7.82%. Sales totaled 717,700 units, down 4.77% from the previous month, but up 3.37% year-on-year.
Among major vehicle categories, passenger cars accounted for 519,900 units produced and 538,500 units sold, marking a 6.42% monthly drop in production and a 2.60% decline in sales. Compared to the same period last year, production was down 0.45%, while sales increased by 8.36%.
Commercial vehicles saw a more severe downturn, with 185,000 units produced and 177,200 units sold—down 11.55% and 10.83% month-on-month, respectively. Year-on-year, production dropped 3.05% and sales fell 9.30%.
Bus sales declined by 18.26%, reflecting weaker demand in this segment. A chart showing the top ten commercial vehicle manufacturers’ sales performance is available for reference.
The macroeconomic environment has significantly impacted small and medium-sized enterprises (SMEs), which has directly affected commercial vehicle sales. In contrast, non-integrated passenger vehicles experienced rapid growth in October compared to September. However, other commercial vehicle types saw varying degrees of decline.
For example, non-integrated passenger vehicles saw a 23.28% monthly drop in production and an 18.26% decline in sales, although they still managed a slight year-on-year increase. Semi-trailer tractors faced a sharp drop, with sales falling 46.19% month-on-month and 41.66% year-on-year. Non-integrated trucks also saw significant declines, with production and sales dropping 24.94% and 26.48% year-on-year.
Among the top ten commercial vehicle manufacturers, Beiqi Futian, Dongfeng, FAW, Jianghuai, Jinbei, Zhongqi, Chongqing Changan, Jiangling, Shaanxi Auto, and Lifan led the market. JAC and Lifan stood out with strong performances, growing 12.56% and 31.05% respectively from the previous month.
Together, these ten companies sold 163,300 commercial vehicles in October, accounting for 66% of the total commercial vehicle sales. This highlights their continued dominance in the sector.
Overall, the market remains sluggish, with many segments struggling to recover from recent declines. The data underscores the need for strategic adjustments in response to ongoing economic challenges.
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